Exelon CEO Rowe Adds 18 Months To Contract; Staying Through 2012

Date :

11/03/2009 @ 8:18AM

Source :

Dow Jones News

Stock :

Exelon Corp. (EXC)

Quote :

44.55 -0.12 (-0.27%) @ 8:00PM

Exelon CEO Rowe Adds 18 Months To Contract; Staying Through 2012

HOLLYWOOD, Fla. (Dow Jones)

Exelon Corp.'s (EXC) chairman and chief executive John Rowe will continue in the job through 2012, with the power company's board extending his contract for an additional 18 months.

Rowe announced the change Tuesday during an investor presentation at the Edison Electric Institute conference. He said the extension of his tenure isn't a signal of concerns with his current management team or a merger or acquisition deal that's in the works.

"I couldn't be happier with the management team I have at Exelon right now," Rowe said.

-By Mark Peters, Dow Jones Newswires; 212-416-2457; mark.peters@dowjones.com